Global Medical REIT Inc. $GMRE Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 75.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,868 shares of the company’s stock after selling 39,381 shares during the period. Gamco Investors INC. ET AL owned about 0.10% of Global Medical REIT worth $434,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Gabelli Funds LLC acquired a new stake in shares of Global Medical REIT in the second quarter valued at approximately $2,829,000. Invesco Ltd. raised its position in shares of Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after purchasing an additional 355,355 shares during the last quarter. Marshall Wace LLP lifted its stake in Global Medical REIT by 2,208.2% in the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock valued at $2,022,000 after buying an additional 279,070 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in Global Medical REIT in the 3rd quarter valued at approximately $5,147,000. Finally, AXA S.A. acquired a new stake in Global Medical REIT during the 2nd quarter valued at $1,016,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Stock Performance

Shares of NYSE GMRE opened at $35.96 on Thursday. The company has a market cap of $482.22 million, a PE ratio of -143.84 and a beta of 1.18. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $45.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. The company has a 50-day simple moving average of $35.62 and a 200-day simple moving average of $34.48.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.